Absolute bull and scaremongering in general. Heās Russian, of course he has links to Russia, it doesnāt take a genius to work this out.
Heās spoken about Revolut on Russian television in Russian. Regardless, Iām sure Lithuania have already done all the due diligence required before granting them a banking licence.
Revolut has spent a long time and a lot of money to have this done, if they get it removed for something silly I can assure you the Lithuanian authority that revokes it will not have a fun time in court.
Also, why would they risk their entire company on kremlin links? Why should the guy be responsible for his father also, surely they are different people?
Tl;dr Lithuania is being stupid.
I agree with you, one always has connection to oneās own country, because family/friends live there.
you shouldnāt pay attention to your origin anyway.
Amazing work! Working towards progress and more independence from typical bank institutions. Congrats 
It is a great news, congratulations! It brought a question to my mind: If I understand it correctly, currently the money is stored in Barclays or Lloyds bank. But what currency is actually stored there? Does Revolut have accounts in GBP, EUR, PLN, NOK, or in all top-yp currencies? If I top up for example in CZK, how or where is it stored? Thanks.
New article in biggest latvian online news just got published.
(you can try to google translate to english if you wish).
In 2 words:
Revolut decided to postpone its bank operation start in Lithuania. There is plans to start operation in second semester of this year.
Background:
Some lithuanian assho** (gov official) few days ago rised concern, that Revolut is threat for Lithuania due to high count of non-residents, so lithuanian government will make some commisson to review Revolut once again (they say it will take 1 month).
āRevolut is a threat for Lithuania due to the high count of non-residentsā. Shouldnāt it be the opposite? Revolut is importing money from other countries doing thisā¦
Logically thinking YES, sure. But lately in Baltic states there is opposite movement, banks close accounts for non-residents, focuses on local business only, there is tight regulations regarding cash (for example recently in Latvia law come in force which prohibits buying property with cash), etcā¦ I think its completely wrong. Their excuse is that cash, non-residents might be laundering money or funding terrorism. Complete bullshitā¦
Iām wondering why revolut choose similar countries (Lithuania, Cyprus, Luxemburg, Malta which recognized as laundering paradises) to open a banking license and not countries like Germany, France, Italy or even UK (for UK customers)?
because itās easier less difficult
keep in mind that if Revolut fails it would be Lithuanians who pay the compensation, up to ā¬100k per customer.
Well, Lithuanians is not precise enough, since itās based on the deposit guarantee scheme EU directive and therefore not paid by taxpayer money per se.
From what I saw on the āIndÄlių ir investicijų draudimasā website, Revolut deposits in EUR, USD and currencies of the EEA would be covered by this national guarantee scheme, which is financed by all banks, bank branches and credit unions in Lithuania.
In Lithuania banks should pay 0.45% of their deposits per annum into this insurance scheme.
However, it is debatable whether this scheme would be able to cope with the leverage of the very large user base of Revolut, which even outweighs Lithuaniaās population, just in the event that Revolut would fail. In this case, the European Central Bank might have to step in and obviously itās linked to a lot of complications for the entire Eurozone.
Well, to cut it short, itās a risk for Lithuania for sure and it should be made sure that Revolut is absolutely compliant with regulations, which frankly, Revolut did not prove to have a good track record on. But on the other hand, it can be a good opportunity for Lithuania by massively growing its financial sector.
Because they wouldnāt get it.
āThe Lithuanian Parliament instructed the government commission, which is evaluating the transactions of strategic companies, to re-examine the credibility of Revolut.ā
If a country like Lithuania, where it is very easy to obtain a banking license, has concerns about Revolut - other more stringent countries would be even more thorough in their checks on the company.
I believe mainstream bank industry is just really afraid of Revolutās success, thats why they invent false bullshit reasons to āre-examineā.
Please become a full bank so I can drop all the 
main Street banksā¦ 
Revolut will soon become Revolut Bank 
What do you know about it? Can you please share some info? Thanks.
Just his wild guessing in the dark 